Tyranna Resources Ltd (ASX:TYX) has confirmed that a high-grade ore shoot continues beneath the recently completed open pit at the Eureka Gold Project north of Kalgoorlie, Western Australia.
Diamond drilling of this shoot has returned high-grade results, providing encouragement that mining may be economical depending on results of further studies.
In this regard, an updated JORC-compliant resource estimate will be prepared based on the drill results.
READ: Tyranna Resources commences drilling for JORC resource at Eureka
Subsequently, the company will decide whether to proceed to a mining study to evaluate the opportunity of mining and toll treating to nearby processing mills.
High-grade results
Best intersections from the 13-hole, 2,040-metre drilling campaign are:
- 14 metres at 4.58 g/t from 103 metres, including 1 metre at 41.80 g/t from 105 metres; - 4.0 metres at 3.33 g/t from 98.0 metres; - 0.4 metres at 31.0 g/t from 170.9 metres; - 1.0 metres at 7.63 g/t from 122 metres; and - 0.92 metres at 5.9 g/t from 130.58 metres.
North wall of the pit showing ore zone with channel sampling and underground development location.
In addition, high-grade channel samples taken across ore at the base of the pit returned 4.0 metres at 20.7 g/t and 5.6 metres at 13.1 g/t.
READ: Tyranna Resources and partner’s drilling extends high-grade gold shoot at Wilcherry project
Drilling at the project 50-kilometres north of the gold mining centre of Kalgoorlie was designed to target an interpreted south plunging ore shoot that had been partially mined in the pit by the previous owners.
Mapping in the pit revealed that mineralisation was associated with quartz veining with minor sulphides contained within a broader zone of shearing and foliation.
Channel sampling across the ore zone before mining was completed in April 2018 also supports the presence of high-grade mineralisation beneath and along strike of the pit.
READ: Tyranna Resources eyes Challenger-type gold opportunities in the Western Gawler Craton
An ore drive was developed in 1996 to access this mineralisation with 150-metres of decline development also completed that year.
However, this project was not progressed due to the prevailing low gold prices at the time.
The shoot appears to be open down plunge but there has been very limited drilling and Tyranna considers it is possible that the interpreted shoot plunges at a steeper angle.